Armenia’s commercial banks bought around $78.4 million from the local foreign currency market on January 22 to 26 at the average weighted exchange rate of 480.31 drams per one USD, the Central Bank of Armenia reported on Monday

The Eurasian Development Bank (EDB), as the Resources Manager of the Eurasian Fund for Stabilization and Development (EFSD), has announced the results of a call for applications for the second EFSD grant competition for social projects

YEREVAN, January 24. /ARKA/. Armenia’s financial ombudsperson’s office received 5,020 finance-related complaints in 2017, by 6.2% more than it received in 2016, the financial ombudsperson Piruz Sargsyan said to a news conference.

She said thanks to her office’s mediation, the country’s financial organizations paid clients more than 181 million drams in compensation claims.

She noted that the main part of complaints was against the poor work of insurance companies, which failed to consider justly cases involving mandatory insurance of vehicles.

The other part of complaints was against banks and credit organizations, related to consumer and other lending and deposit agreements.

The first financial ombudsman office in the Commonwealth of Independent States was established in Armenia and started functioning on January 24, 2008. ($ 1 – 481.17 drams). -0-

The combined assets of 17 commercial banks operating in Armenia amounted to 4.362 trillion drams in 2017, having upped by 6.6 percent from the previous year, according to a ranking of Armenian banks by size of assets compiled by Arka news agency

Armenia’s Central Bank said it will buy new and old banknotes and coins from individuals and legal entities which in different periods were in circulation in the territory of historical Armenia in order to replenish its collection

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